The World Economic Forum in Davos hosted a session titled “Economic Transformations in Saudi Arabia,” focusing on the Kingdom’s remarkable economic progress. IMF Managing Director Kristalina Georgieva praised Saudi Arabia for establishing a “favorable environment for growth” while maintaining fiscal discipline.

Saudi Arabia's Economy Minister announced a $600 billion investment and trade partnership with the United States. The plan, revealed by the Crown Prince, includes both public and private sector contributions.

Saudi Arabia aims to diversify its economy as part of the country’s long-term economic transformation plan, Finance Minister Mohammed Al-Jadaan tells Bloomberg at the World Economic Forum in Davos, Switzerland.

Saudi Arabia said it received a record 30 million foreign tourists last year as the kingdom spends heavily on hotels, luxury projects and entertainment to transform itself into a hub for tourism.

Saudi Arabia is looking for mining deals in a push to secure supplies of critical minerals for its industrialization plan, just as a wave of attempted consolidation sweeps the sector.

Two buildings branded "Saudi House" and "Saudi At Davos" stand out on the chic main street of the Swiss Alpine village hosting the World Economic Forum, showcasing the kingdom's growing presence at major international events.

DAVOS, Switzerland - Saudi Economy Minister Faisal Alibrahim said on Friday that the $600 billion of expanded investment and trade with the United States mentioned by Saudi Crown Prince Mohammed bin Salman includes investments as well as procurement from the public and private sectors.

OPEC+ has yet to react to a call from U.S. President Donald Trump for lower oil prices, with delegates from the group pointing to a plan already in place to start raising oil output from April.

Crude futures are headed for weekly declines after U.S. President Trump outlined plans to boost domestic production and said he would ask Saudi Arabia and OPEC to lower oil prices. Brent crude and WTI both rose 0.

U.S. President Donald Trump said he would ask Saudi Arabia and other OPEC nations to 'bring down the cost of oil'.